Economist Thomas Sowell has written another informative column titled “Fiscal Cliff Notes: Part II” which appeared on The American Spectator web site.
This column shows in detail the lie in Obama’s repeated statements that President Bush’s “tax cuts for the rich” cost the government so much lost tax revenue, that they added to the budget deficit, so must be eliminated.
In fact, the “Bush” tax cuts for all taxpayers increased tax revenue. The graph shown below clearly demonstrates that federal spending is the main culprit of Obama’s massive budget deficits. In his first year in office Obama’s outlays increased by over $530 billion, and have continued for four years. Continue reading
Over the past two days, numerous internet posts and news articles have reported that Speaker John Boehner and his House leadership team have removed a number of Republicans from their committee assignments in the U.S. House of Representatives.
The apparent cause is because they have cast their votes in opposition to the Republican leadership’s positions too many times.
When is it ever the Speaker’s job to stifle freedom of speech? A U.S. Representative is elected to represent the residents of his district — NOT THE SPEAKER OF THE HOUSE! Continue reading
Economist Thomas Sowell has written an informative column titled “Fiscal Cliff Notes” which appeared on The American Spectator web site.
Sowell describes some facts about Obama’s increasing taxes on the “rich.” It will run the government for 10 days, and will do nothing to offset Obama’s last four years of trillion dollar deficits.
Sowell also discusses the Federal Reserve’s “quantitative easing” that is supposed to “stimulate” investing to improve economic growth. In fact “quantitative easing” will only debase the value of money, which will “take people’s wealth from them without having to openly raise taxes.” Continue reading